Stagecoach's rail and bus units cruise higher
Transport group Stagecoach said current trading remains good and it expects to at least maintain operating profit levels in the year to 30 April 2013.
Transport group Stagecoach said current trading remains good and it expects to at least maintain operating profit levels in the year to 30 April 2013.
The group, which recently introduced it Megabus brand into Europe with services running from London, Paris, Amsterdam and Brussels from as little as £1 or €1, said like-for-like revenue at its UK Bus operations rose 2.7% in the forty eight weeks ended 1 April 2012. Its bus division carries over two million passengers each day on over 8,000 vehicles.
UK Rail (excluding tram businesses) saw 8.8% growth for the period while revenue at its North America business, including megabus.com, increased 14% in the eleven months ended 31 March 2012. Virgin Rail revenue climbed 7.9% in the forty eight weeks ended 1 April 2012.
Subscribe to MoneyWeek
Subscribe to MoneyWeek today and get your first six magazine issues absolutely FREE
Sign up to Money Morning
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Don't miss the latest investment and personal finances news, market analysis, plus money-saving tips with our free twice-daily newsletter
Stagcoach said overall profitability has remained good and remains upbeat about future trading.
"We believe the prospects for the group remain positive and that each of the Group's wholly owned divisions remain well placed to at least," it said in a pre-close trading update.
CJ
Sign up to Money Morning
Our team, led by award winning editors, is dedicated to delivering you the top news, analysis, and guides to help you manage your money, grow your investments and build wealth.
-
8 of the best properties for sale with smallholdings
Eight of the best properties for sale with smallholdings – from a 17th-century farmhouse in the Deben Valley, Suffolk, to a property set in 36 acres on the slopes of the Preseli Hills, Pembrokeshire
By Natasha Langan Published
-
US election – is the Trump Trade back?
The US election is around the corner. How does Trump influence US markets?
By Alex Rankine Published